ISEE closes at 175, another excessive optimistic high. This is when you have to keep a level head. Q3 earnings are not out yet, warnings will come and of course so will redemptions that many folks put in on August 15th for the end of quarter. Yes, there is rotation out of energy into techs, but the advance is too late in the game in terms of how far we are from the 20 dma. Everyone is now pricing in more rate cuts and expecting huge gains out of it, but this could also be 2000, another end of bull market rate cut that did not stop the eventual outcome. If long, I would sell into this strength. This is NOT 2006 and don't trade it as such.
NQ 38.2% projection August is at 2103.50, daily R1 is 2108.50. That 5 point area should be overnight resistance. On a breakout tomorrow, extreme high would be 2126.25, 50% projection August and 2130.25 weekly R2. Support is 2095.75 and 2099.50.
NQ 38.2% projection August is at 2103.50, daily R1 is 2108.50. That 5 point area should be overnight resistance. On a breakout tomorrow, extreme high would be 2126.25, 50% projection August and 2130.25 weekly R2. Support is 2095.75 and 2099.50.
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on Tuesday, September 25, 2007 at 9/25/2007 06:39:00 PM.
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